Connecticut Retirement Plans and Trust Funds, Hartford, will continue its current strategic asset allocation, based on a 1999 asset-liability study by consultant BARRA RogersCasey.
The investment advisory council, which oversees the $22 billion system, approved the consultants recommendation to retain the asset allocation. As of Sept. 30, the system had 32% allocated to fixed income, vs. a 30% target; 53.3% to equity, with a 54% target; and 14.7% to alternatives, vs. a 16% target.
The system also is continuing its search for international risk-controlled, core, active and small-cap managers, as it expands its active international equity allocation to 15% of assets from 10.8%. The system issued RFPs last year, and finalists for the risk-controlled and core mandates will be interviewed Jan. 29-31.
Finalists for the active portfolios will be interviewed at the end of February and finalists for the small-cap portfolios at the end of March.
The system continues to explore ways of identifying more qualified minority, women-owned and emerging firms for consideration, and may look at funds of funds. It plans to bring recommended finalists in each of the above categories to the advisory council meeting in April.